Huge potential for China-Russia trade in vehicles, auto parts
Tuesday, 19 June 2007
HARBIN, June 18 (CEIS): There is huge potential for cooperation between China and Russia in the automotive trade, an official with the ministry of commerce said at the first Sino-Russian forum on the auto market held here yesterday.
Zhi Luxun, who is in charge of machinery and scientific and technological industries with the ministry, based his judgment on the fact that China has become a major motor vehicle producer and consumer in the world, while Russia boasts a sharp competitive edge in the auto industry and a comfortable investment climate for the sector.
In 2006 China explored new markets for motor vehicles and auto parts, in Europe. During the process, Russia's potential for automotive trade began to emerge, Zhi said.
China exported 460 million US dollars worth of automotive products to Russia last year, a growth of 161.8 per cent over the previous year, according to the ministry of commerce.
Zhi Luxun, who is in charge of machinery and scientific and technological industries with the ministry, based his judgment on the fact that China has become a major motor vehicle producer and consumer in the world, while Russia boasts a sharp competitive edge in the auto industry and a comfortable investment climate for the sector.
In 2006 China explored new markets for motor vehicles and auto parts, in Europe. During the process, Russia's potential for automotive trade began to emerge, Zhi said.
China exported 460 million US dollars worth of automotive products to Russia last year, a growth of 161.8 per cent over the previous year, according to the ministry of commerce.